Live Insurance News

New usage based insurance available to Pennsylvania drivers

November 17, 2015November 15, 2015 Julie Campbell

This pay as you drive coverage lets safer drivers prove their reduced risk for premiums discounts. Auto policies can be quite costly and they are certainly an area in which most drivers would like to be able to reduce their expenses so they can direct that money to other areas of their budgets, and in response to this, usage based insurance products are being offered by many insurers in order to provide those motorists with a greater chance to save. While not everyone can benefit from savings through these auto…

Pennsylvania regulators make changes to health insurance proposals coming from insurers

October 21, 2015October 20, 2015 Marc

Highmark will be overhauling the health insurance plans it offers in the state Highmark Inc., one of the largest providers of health insurance coverage in Pennsylvania, has announced that it will be making changes to the policies it offers in the state. The decision follows action taken by the Pennsylvania Insurance Department to reduce several of the rate increase proposals that came from the insurer this year. Highmark had sought to increase premiums for 2016 coverage, but state regulators have determined that rates did not need to be increased by…

Pennsylvania fines life insurance companies for partial benefits payments

August 20, 2015August 19, 2015 Julie Campbell

The state has been slapping insurers with penalties for failing to offer a full payout to beneficiaries. Pennsylvania has started implementing a crackdown on life insurance companies that have been discovered to be failing to pay out full benefits to the beneficiaries of policies soon after those policy owners have died. So far in 2015, the state has recovered $70.4 million for almost 4,300 beneficiaries in Pennsylvania. This is all a part of a broader effort by the Pennsylvania Department of Insurance, which involves a number of other states, as…

Travel insurance tips offered to Pennsylvania vacationers

May 29, 2015May 25, 2015 Julie Campbell

The Insurance Department in the state has released advice for residents of the state before they head away. The warming weather means one thing to many people across Pennsylvania, and that is the preparations for the summer vacation season, about which they are now being provided with a range of travel insurance tips. The Pennsylvania Insurance Department is reminding vacationers to look into the right insurance coverage. The Insurance Department has released a checklist for people across the state, before they head away on vacation. Being away will impact many…

Pennsylvania governor considers health insurance exchange contingency plan

May 5, 2015May 2, 2015 Julie Campbell

Gov. Tom Wolf’s administration will be looking to create a strategy for state residents who could lose federal subsidies. The office of Governor Tom Wolf (D) of Pennsylvania has now announced that his administration will be writing a contingency plan for the health insurance exchange users in the state who risk losing their federal subsidies for their premiums. This plan is being designed just in case a June ruling from the U.S. Supreme court withdraws the tax credits. It is expected that the U.S. Supreme court will have made its…

Pennsylvania workers compensation rates to be reduced

March 31, 2015March 28, 2015 H. Cutner

The state will be slashing back these insurance rates by 5.99 percent, beginning with the start of April. Pennsylvania has announced that it will be reducing its rates for workers compensation by 5.99 percent, and that this new level will become effective as of April 1, in a decision that is hoped to provide businesses with a considerable savings. In fact, the Wolf administration has said that the savings to businesses has been estimated at $140 million. The governor of Pennsylvania, Tom Wolf, explained that “These rate reductions will go…

180,000 Pennsylvanians receive coverage through state’s health insurance exchange

January 6, 2015January 3, 2015 Logan B.

Pennsylvania exchange is performing well More than 180,000 people in Pennsylvania have purchased health insurance plans through the state’s exchange during the first month of the open enrollment period, according to information released by the Department of Health and Human Services. The agency notes that many of the people seeking coverage for the new year were able to find policies using HealthCare.gov, the federal exchange that serves states that do not operate their own exchange system. Rapidly growing enrollment numbers have also shown that many of the issues that the…